Question #23 of 50
By definition, a rollover occurs, and must be completed within 60 days, whenever
A) assets are transferred from one qualified plan to another qualified plan and are first received by the participant instead of directly being transferred to the new custodian
B) the account owner decides to withdraw funds from her own account and uses the money to fund her spouse's account instead
C) life insurance cash value is transferred to a new life insurance policy or annuity pursuant to a 1035 exchange if the proceeds are first received by the policyowner
D) the intent is to avoid taxation if life insurance is surrendered and the cash value is used to fund an IRA in excess of the annual contribution limit